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May 2, 2024 |
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| Home > Small Business Lenders by State > Kansas Business Loan Sources > Mission, Business Loans > The Mission Bank Mission Business Loans > Women, Children, And Infants Clothing And Accessories Merchant Wholesaler Loan | ||||
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Kansas Bank SBA Loans
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The Mission Bank SBA Loan to Women, Children, And Infants Clothing And Accessories Merchant Wholesaler CompanyAn SBA loan from The Mission Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Overland Park, Kansas business owner got a $125,000 loan. This growing company knew how to go about getting a business bank loan. Based in Overland Park, Kansas, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was The Mission Bank, based in Mission, Kansas. SBA Loan Borrower COMPANY TYPE: WOMEN, CHILDREN, AND INFANTS CLOTHING AND ACCESSORIES MERCHANT WHOLESALER SBA Loan Lender THE MISSION BANK This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 424330 - Women, Children, and Infants Clothing and Accessories Merchant Wholesaler Loan Approval Date 6/29/2004 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $106,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Mission Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Mission Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Borrowing Money from Friends and Family SBA Participating Banks in Mission, Kansas
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